On 15 October 2021, there was published on legislation.gov.uk The Packaged Retail and Insurance-based Investment Products (UCITS Exemption) (Amendment) Regulations 2021 together with an explanatory memorandum.
These Regulations come into force on 31 December 2021. They extend an existing legal exemption for management and investment companies and persons advising on, or selling, UCITS funds from the requirements of the onshored Packaged Retail and Insurance-based Investment Products Regulation. As a consequence of the Regulations, the current exemption will be extended by five years, to 31 December 2026.